FarmdocDaily Provides a Good Recap on House Ag Proposals
FarmdocDaily released their latest post on the House Ag Proposals.
FarmdocDaily provides a great daily blog post for farmers. In today’s post, they provide an analysis of the House Ag Proposal that we posted on earlier.
They provided Table 1 showing the history of the current reference prices and the proposed reference price plus the estimated reference price for the years 2031-2035. The Bill will allow the reference price to rise by .5% each year starting in 2031.
As an example, corn currently has a reference price of $3.70. The new price will be $4.10 and by 2035 it will have risen to $4.20 (rounded), or a 13.61% increase from the current reference price.
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